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21 July 2023 / Grant Carroll
Issue: 8034 / Categories: Features , Profession , Cyber , Technology , Insolvency , International
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Is a crypto winter coming?

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With growing numbers of crypto disputes hitting the courts in the Caribbean, Grant Carroll examines the latest power to be added to a liquidator’s arsenal
  • The court of the British Virgin Islands (BVI) has endorsed an extraterritorial order summoning directors of a BVI company in liquidation to appear for private examination by joint liquidators—likely its first.
  • Confirmation of the availability of this power to liquidators will come as welcome news to insolvency practitioners in the BVI.

The court of the British Virgin Islands (BVI) has endorsed what is believed to be its first extraterritorial order summoning directors of a BVI company (in liquidation) to appear for private examination by joint liquidators, in BVIHC(COM) 2022/0119, Russell Crumpler and Christopher Farmer as Joint Liquidators of Three Arrows Capital Ltd (in liquidation) and (1) Zhu Su (2) Kyle Davies. 

Three Arrows conducted a high-profile and prominent cryptocurrency business as a digital asset hedge fund, reportedly operating assets in excess of US$10bn at one stage. Owing to the volatility

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MOVERS & SHAKERS

Thomson Hayton Winkley—Jordan Wallace

Thomson Hayton Winkley—Jordan Wallace

Thomson Hayton Winkley strengthens family law team

Ward Hadaway—Barnaby Rosenthall

Ward Hadaway—Barnaby Rosenthall

Construction lawyer returns to Ward Hadaway in Teesside role

Bird & Bird—Shahin Baghaei

Bird & Bird—Shahin Baghaei

Bird Bird hires leading legal transformation expert

NEWS
Legal aid deserts leave almost one in four without adequate access to justice
The Solicitors Regulation Authority (SRA) has warned solicitors and law firms that using artificial intelligence does not alter their professional obligations, amid concerns over inaccurate legal material and client confidentiality
From forgotten interest claims to case-management appeals, a string of procedural developments offers useful—and occasionally cautionary—lessons for practitioners

Jonathan Fisher KC highlights that it now accounts for around 40% of criminal offences, with roughly 70% involving technology, and argues that the UK cannot simply prosecute its way out of the problem. Detection, investigation and prosecution all require improvement, while different fraud types demand tailored responses.

How forcefully can a litigant criticise a public authority before robust advocacy crosses the line into unreasonable conduct? 
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